Avalon Investment & Advisory reduced its position in shares of FirstService Corp (NASDAQ:FSV) (TSE:FSV) by 22.5% in the second quarter, HoldingsChannel reports. The firm owned 29,181 shares of the financial services provider’s stock after selling 8,459 shares during the quarter. Avalon Investment & Advisory’s holdings in FirstService were worth $2,940,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently made changes to their positions in the company. Synovus Financial Corp bought a new position in shares of FirstService during the 1st quarter valued at approximately $29,000. Financial Management Professionals Inc. purchased a new position in FirstService in the 2nd quarter worth approximately $68,000. PenderFund Capital Management Ltd. purchased a new position in FirstService in the 1st quarter worth approximately $109,000. Trexquant Investment LP purchased a new stake in shares of FirstService during the 2nd quarter worth approximately $255,000. Finally, US Bancorp DE raised its holdings in shares of FirstService by 31.8% during the 2nd quarter. US Bancorp DE now owns 2,550 shares of the financial services provider’s stock worth $257,000 after acquiring an additional 615 shares in the last quarter. Institutional investors own 65.62% of the company’s stock.
Several analysts recently weighed in on the company. BidaskClub lowered FirstService from a “buy” rating to a “hold” rating in a report on Tuesday, August 11th. BMO Capital Markets increased their price target on FirstService from $96.00 to $102.00 and gave the stock a “market perform” rating in a research report on Friday, July 3rd. Raymond James increased their price target on FirstService from $115.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, July 24th. William Blair raised FirstService from a “market perform” rating to an “outperform” rating in a research report on Friday, April 24th. Finally, Zacks Investment Research raised FirstService from a “hold” rating to a “buy” rating and set a $114.00 price objective on the stock in a research report on Wednesday, July 8th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $113.14.
FirstService stock traded up $4.19 during midday trading on Thursday, hitting $123.89. 3,478 shares of the company were exchanged, compared to its average volume of 77,476. The firm has a market capitalization of $4.89 billion, a PE ratio of 88.49 and a beta of 0.98. FirstService Corp has a fifty-two week low of $57.38 and a fifty-two week high of $121.05. The business has a fifty day simple moving average of $109.97 and a two-hundred day simple moving average of $95.92. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.46 and a current ratio of 1.46.
FirstService (NASDAQ:FSV) (TSE:FSV) last posted its earnings results on Thursday, July 23rd. The financial services provider reported $0.86 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.92. The firm had revenue of $621.60 million for the quarter, compared to analyst estimates of $550.01 million. FirstService had a return on equity of 13.66% and a net margin of 2.21%. FirstService’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $1.12 earnings per share. As a group, equities analysts expect that FirstService Corp will post 1.45 earnings per share for the current year.
FirstService Company Profile
FirstService Corporation, together with its subsidiaries, provides residential property services to residential and commercial customers in the United States and Canada. The company operates through two segments, FirstService Residential and FirstService Brands. The FirstService Residential segment provides property management services for private residential communities, such as condominiums, co-operatives, homeowner associations, master-planned communities, active adult and lifestyle communities, and various other residential developments.
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